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Market news: Two officials from the Venezuelan Central Bank resigned, and President Maduro included gold in his reserves.On April 4, well-known Apple analyst Ming-Chi Kuo said that the new tariff policy will undoubtedly have a negative impact on Apple, but Apple is not helpless. In the US market, new high-end iPhones account for 65-70%, and high-end users are relatively willing to accept Apples price increases. In addition, Apple has many ways to pass on tariff costs to reduce consumers negative perception of price increases, such as cooperating with telecom operators to increase subsidies and reduce discounts for Trade In exchange plans. Another way is to increase bargaining power on the supply chain. It is expected that most of Apples supply chain will face greater pressure to bargain. If Apples gross profit margin falls below 40% due to tariffs, this should be a temporary phenomenon, and it should still be able to maintain above 40% in the long run.Japans total household spending in February was 3.5% month-on-month, in line with expectations of 0.5% and the previous value of -4.5%.Japans all household spending in February was -0.5% year-on-year, in line with expectations of -1.7% and the previous value of 0.80%.On April 4, Dmitriev, president of the Russian Direct Investment Fund and special representative of the Russian President for foreign investment and economic cooperation, summarized the results of the talks with US government representatives in Washington and said that the idea that Ukraine cannot join NATO has been widely recognized, including by the US President Trumps administration. Dmitriev said: "I think, as our president said, it is completely impossible for Ukraine to join NATO, and I also think this has been widely recognized, including by the Trump administration."

AUDJPY continues to struggle around 94.00 despite solid Aussie jobs data

Daniel Rogers

Nov 17, 2022 11:45

截屏2022-11-17 上午10.20.01.png 

 

The AUDJPY pair has stayed firm around 94.00 despite the release of bullish Australian employment data. Compared to the projected 15k and the preceding release of 0.9k, the Australian Bureau of Statistics announces that the economy has added 32,200 new jobs to the payroll market. In addition, the unemployment rate has decreased from 3.6% to 3.5% to 3.4%.

 

Australian employment numbers that surpass expectations will impress the Reserve Bank of Australia (RBA). This will allow RBA Governor Philip Lowe to continue steadily hiking rates. In light of this week's release of the RBA's minutes, the central bank will maintain a rate hike structure of 25 basis points (bps) because policymakers believe the Official Cash Rate (OCR) has already been hiked in a short amount of time.

 

Nevertheless, the inflation rate has not yet reached its high, as a historic increase in price growth observed in the third quarter indicates. The Australian inflation rate increased to 7.3%, exceeding the consensus expectation of 7.0%. This prompted the RBA to hike its projected interest rate to 8%. In addition to producing increasing price pressures, a limited market is responsible for the robust purchasing power of households.

 

As Russia-Poland tensions have largely calmed and no further developments are anticipated, the risk profile is expected to diminish.

 

On the Tokyo front, an unexpected decline in Gross Domestic Product is haunting investors. In contrast to expectations of a 0.3% increase, Japan's gross domestic product decreased 0.3% in the third quarter. We were surprised by the q/q decline in the third quarter because we underestimated the impact of higher inflation, the summer wave of COVID-19 infections, and a significant weakening of the yen, which exacerbated the nation's already soaring import costs.

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